Turkish IMF accord more likely on economic plan, JPMorgan says

Turkey is more likely to sign a new loan accord with the International Monetary Fund as it prepares a three-year economic plan, JPMorgan Chase & Co. said.

The likelihood of an IMF agreement has risen to 70 per cent from 60 per cent because of “the activity the Turkish authorities are taking in engineering their own ‘‘exit strategy’’ from global recession,” JPMorgan economist Yarkin Cebeci said in an e-mailed report today from Istanbul.